Microsoft have found themselves looking straight into a $1.15 billion (US) repair bill. According to CRN.com, Microsoft has admitted that all of the 11.6 million 360's sold in the past 19 months suffer from a design flaw resulting in hardware failure.

We've already had a glimpse of numerous game footage (here and here) and seen various screenshots, but now, an unofficial source is dangling more goss in front of our drooling mouths projecting a September 14 release date.